The Professional Standards Committee (PSC) met in Copenhagen in May 2016. The event marked a significant milestone for the PSC Chair (Denmark) as this year is its last as chair of that committee.
Representatives from the Tribunal de Contas (TCU) in Brazil (the incoming chair) and the European Court of Audits (incoming vice chair) discussed efforts for a smooth transition after the XXII INCOSAI.
The PSC also considered a proposal to merge two of its subcommittees—the Accounting and Reporting subcommittee and the Financial Auditing Standards subcommittee.
After consideration of a number of comments, the PSC approved the exposure draft of the ISSAI 30—the INTOSAI Code of Ethics. For a succinct overview of the new ISSAI 30, please refer to a recent INTOSAI Journal Winter 2016 article (located on page 20):
The PSC was also briefed by representatives of the Forum for INTOSAI Professional Pronouncements charged with developing a new ISSAI Framework. The Forum has exposed a draft framework that could significantly change the organization of standards and INTOSAI Guidance for Good Governance.